Weekend Reading: Money and Happiness: Lessons from Lottery Winners

This article appears as part of Casey Weade's Weekend Reading for Retirees series. Every Friday, Casey highlights four hand-picked articles on trending retirement topics and delivers them straight to your email inbox. Get on the list here.
Weekend reading lessons from lottery winners Weekend reading lessons from lottery winners
Weekend Reading

Despite what you might hear, most lottery winners are happy and don’t end up bankrupt or miserable. In fact, many experience improved lives and continue to work even after their windfall.


Money as a means: This goes to show that the happiness lottery winners feel stems from the activities they choose to spend their money on, not the money itself. Most of us won’t win the lottery, but some receive a substantial amount through other means, such as an inheritance. The key to finding happiness in these instances is practicing self-control, while avoiding the temptations of greed and impulse spending.

Furthermore, it's important to understand that windfalls are not guaranteed to continue, just as your financial struggles won't last forever. Therefore, prioritize focusing on what truly matters to you, as having “a lot of money” should not be the ultimate goal.

Remember: Your money provides options and freedom, but happiness from those dollars develops when they are leveraged as a tool for fulfillment.